Astera Labs' Q2 revenue jumps 104% YoY, expanding AI supply chain role with strong growth and new products.

Astera Labs significantly grew its Q2 revenue by 104% year-over-year to $392.4 million, driven by its expanding role in the AI supply chain and new product launches that broaden its total addressable market. The company maintains strong non-GAAP margins and projects further acceleration in Q3, with its Scorpio switches becoming the largest product family. Despite premium valuation and risks from customer concentration and competitors like Nvidia and Broadcom, Astera Labs' solid execution, strong balance sheet, and platform strategy support a Buy rating for investors.

Astera Labs (ALAB) trades at USD 352.48 on Pluang as of Sep 29, 2026 05:51 WIB, down 3.33% in the last day. This price sits closer to its 52-week low of USD 100.27 than its 52-week high of USD 483.02, highlighting significant volatility over the year. Despite the recent dip, Pluang investors show a strong buying interest with 69% of order activity favoring buys, reflecting confidence in the company’s growth prospects amid its expanding AI market role.